26 firms quit labor market each day, says GOSI

2019-01-20 18:02:00

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Saudi Gazette report

RIYADH — As many as 7,143 commercial establishments have left the market in the third quarter of 2018, the Arabic daily Al-Watan reported on Sunday quoting a statistical report by the General Organization for Social Insurance (GOSI).

According to the organization, there were only 453,715 establishments by the end of last year against 460,858 in 2017.

"This means that 26 commercial establishments leave the market every day," it said.

GOSI said the establishments with four subscribers or less were 229,361, representing about half of the establishments while there were 90,460 entities employing 5-9 workers.

It said 59,683 establishments employed 19 workers while there are 472 establishments with 499 workers.

The report said there were 1,512 establishments with 500 or more workers while 5,756 establishments employed 100-199 workers. It said 811 establishments employed 300-399 people.

According to the report, Riyadh topped all other regions in the number of commercial establishments in 2017 with 105,982 of them, followed by Makkah province, which had 60,652 establishments.

The Eastern Province came third with 42,981 establishments, followed by Qassim with 34,596 entities.

The Northern Border Province came last on the list with only 4,766 establishments.